Third quarter net income was $10.1 billion in third-quarter 2016. Private U.S. property/casualty insurers suffered a $1.7 billion net underwriting loss in the first nine months of 2016—compared to a $7.3 billion net underwriting gain in nine-months 2015—and experienced a drop in net income after taxes to $31.8 billion from $44.1 billion a year earlier, […]
Property/Casualty Insurers Report $13.3B in Net Income after Taxes in First-Quarter 2016
Increases in catastrophe losses, higher combined ratios and declining investment income caused a 26.6 percent decline in net income from 2015. Private U.S. property/casualty insurers saw their net income after taxes fall to $13.3 billion in first-quarter 2016 from $18.1 billion in first-quarter 2015, a 26.6 percent decline, and their annualized quarterly yield on investments […]
Shop Profitability Seminars Scheduled in Connecticut and Massachusetts
“We’re the only $60 billion industry in America that charges $30 billion for our work” say Tony Lombardozzi and Peter Abdelmaseh, owners of Superare Advertising + Marketing Agency in Belmont, Mass., and they believe auto body repair shops have been offering a “perpetual half-price sale” for decades and don’t have to do that anymore! Two […]
Property/Casualty Insurers More Profitable in First Nine-Months of 2015
Net written premiums and investment income both up. Profitability measure grows 1.2 percentage points. Private U.S. property/casualty insurers’ net income after taxes grew to $44.0 billion in the first nine months of 2015 from $37.8 billion in nine-months 2014, with insurers’ overall profitability as measured by their rate of return on average policyholders’ surplus growing […]
Auto Physical Damage Insurance Underwriting Profit Declining Over Past Decade
Latest statistics from the National Association of Insurance Commissioners indicates that the percentage of premiums going to pay losses increasing. Data contained in the National Association of Insurance Commissioners (NAIC) report on profitability by insurance line in 2014, released on December 31, 2015, illustrates the increasing percentage of underwriting dollars going to pay claims on […]